(MENAFN- KNN India)
New Delhi, Sep 6 (KNN) Bhupen Wakankar, Director of Global Trade at Amazon India, emphasized the tremendous potential of Indian Micro, Small, and Medium Enterprises (MSMEs) in the global export market.
Speaking at the launch of Amazon's Exports Digest 2024, Wakankar highlighted the immense scope for MSMEs in e-commerce exports, especially with Amazon Global Selling, the company's flagship cross-border trade program.
"Currently, MSME participation through Amazon is less than 5 per cent, indicating that the sector remains largely untapped," Wakankar noted.
He projected that Amazon is poised to enable thousands of Indian businesses to reach over USD 13 billion in cumulative e-commerce exports by the end of 2024.
The Exports Digest 2024, a detailed report on the progress of e-commerce exports from India, showcased significant growth. Amazon's Global Selling program has brought 1.50 lakh Indian exporters onboard, enabling them to sell over 40 crore made-in-India products to global customers.
The program has experienced over 20 per cent growth in the past year, reflecting increasing international demand for Indian goods.
Amazon Global Selling, launched in 2015, now supports over 200 sellers across India, with top export destinations including the US, UK, Canada, Germany, France, Italy, Spain, and Mexico.
The report also revealed the fastest-growing categories in 2023, with beauty products leading at 40 per cent year-on-year growth, followed by apparel (35 per cent), health and personal care (30 per cent), toys (25 per cent), and home products (20 per cent).
“Technology is revolutionizing e-commerce exports, and we are heavily investing in tools to help Indian MSMEs optimise their reach and grow globally,” Wakankar said.
Amazon remains committed to supporting Indian businesses and is on track to achieve USD 20 billion in cumulative e-commerce exports by 2025.
Through these efforts, Amazon aims to further strengthen India's position in the global e-commerce landscape, empowering MSMEs to capitalise on new market opportunities and thrive in the international arena.
(KNN Bureau)
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